News: Investors dump bonds and gold, pile into equities: BofA.
LONDON (Reuters) – Investors piled into stocks and pulled money from gold and bonds for the week leading up to March 10, data from BofA Global Research showed.
BofA’s weekly inflow report showed investors put $ 31.5 billion in stocks, while $ 1.8 billion was withdrawn from gold and $ 15.4 billion was withdrawn from bonds. Bond yields rose last week on fears of inflation while soaring Tech- Shares were sold when investors switched to cheaper stocks.
Citing data from EPFR Global, the BofA announced last week that it had seen the third largest inflows into emerging market stocks ever and the second largest into value stocks.
Reporting by Ritvik Carvalho; Adaptation by Carolyn Cohn
Original Source © Reuters